Europe has been ranked as the best place in the world for expatriates seeking career progression whilst retaining great working conditions, according to HSBC’s Expat Explorer survey.
The annual survey ranked Switzerland as the best place to work in terms of earnings potential, career progression and working conditions for the second year running, with average earnings of USD $188,275, which is double the international expat average of USD $97,419.
Germany, Norway, Sweden, Austria and the Netherlands all make the top 10 as European countries takes six of the top 10 places, with Singapore, UAE, Qatar and Canada the other members. The survey found that although outright expat earnings and benefits are lower than average across European nations, the continent offers an exceptional working environment which makes it highly desirable.
In Switzerland, 69% of expats have noticed an improvement in their work-life balance and 61% state that the work culture is an improvement on their home country. Sweden is particularly revered for its work culture, with 71% of expats noting that the work culture had improved compared to their home country. Work-life balance is also highly regarded in Europe, with 87% of expats in Norway, and 71% in Austria, stating their work-life balance had improved since moving to the country.
European countries also fare well in the overall table, which accumulates the ranking scores for economic factors, personal experience and family factors. Singapore tops the list, ahead of New Zealand and Canada. However, six European countries make up the remainder of the top 10 alongside Bahrain, with Czech Republic, Switzerland, Norway, Austria, Sweden and Germany proving to be outstanding locations for expats across all metrics.
The strength of the European rankings is bolstered by its high scores in work-life balance and working environment, which enables them to rank highly in comparison to well-established expat destinations in Singapore and Hong Kong, who offer stronger career progression at the expense of work-life balance, with 30% and 50% of expats respectively stating their work-life balance had declined since moving to those countries.
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